SAN JOSE, Calif., April 22, 2015 — (PRNewswire) —  Xilinx, Inc. (Nasdaq: XLNX) today announced fiscal 2015 sales of $2.38 billion, flat with the prior fiscal year. Fiscal 2015 net income increased 3% to $648 million, or $2.35 per diluted share, versus fiscal 2014 net income of $630 million or $2.19 per diluted share.

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Fourth quarter fiscal 2015 sales were $567 million, down 4% sequentially and down 8% from the fourth quarter of the prior fiscal year.  Fourth quarter fiscal 2015 net income was $135 million, or $0.50 per diluted share, including a $24 million restructuring charge, or $0.08 per diluted share.

Additional fourth quarter comparisons are represented in the charts below:

"Sales from the 28nm product family increased significantly with broad-based growth in all end markets and all products," said Moshe Gavrielov, Xilinx President and Chief Executive Officer.  "Additionally, the Company reported a record gross margin for the fiscal year of 70%.  This is up from 69% in the prior fiscal year and is a testament to the continued focus and rigor we have placed on improving our overall profitability."     

                                                                                

                                                                                                                          

Products are classified as follows:

New products: Virtex® and Kintex™ Ultrascale, Virtex7, Kintex7, Artix™-7, Zynq™-7000, Virtex6, Spartan™6 products
Mainstream products: Virtex5, Spartan3 and CoolRunner™II products
Base products: Virtex4, VirtexII, VirtexE, Virtex, Spartan-II, Spartan, CoolRunner and XC9500 products
Support products: Configuration solutions, HardWire, Software & Support/Services

Product and Financial Highlights – Fiscal 2015

• During fiscal year 2015, sales from Xilinx's 28nm product portfolio, which includes the 7 series FPGAs and the Zynq-7000 families, represented more than $580 million.  This was up from approximately $380 million in the prior fiscal year.  Material contributions from all end markets and all products drove the significant sales increase.   
• The Company continued to drive gross margin improvement, achieving a record 70% gross margin in fiscal year 2015, up from 69% in the prior fiscal year.  This improvement reflects the Company's continued discipline and focus on driving gross margin expansion across our product portfolio.  
• During fiscal 2015, Xilinx paid its shareholders a record $306 million in dividends and repurchased 15.3 million shares for $650 million.  Additionally, Xilinx increased its quarterly dividend by $0.02 per share to $0.31 per share, the 10^th consecutive year of dividend increases since initiating its first dividend in 2004.  Xilinx has returned 100% of operating cash flow to stockholders in the form of dividend and share repurchase over the past ten years.     
• Xilinx, in close partnership with TSMC, began shipping the 20nm Ultrascale family, including the industry's only 20nm high-end family and the industry's largest FPGA, which delivers over 4X the capacity of competitive devices.  This family scales from 20nm planar through 16nm FinFET technologies and beyond, while also scaling from monolithic through 3D ICs.  Additionally, Xilinx remains on track to tape out its first 16nm device with TSMC in the June quarter.    
• Xilinx continued to strengthen its Software Development Environments (SDx™).  SDx enables developers with little or no FPGA expertise to use high level programming languages like C, C++ and OpenCL to leverage the power of programmable hardware with industry standard processors on or off chip.  Xilinx currently offers three different environments targeting high growth opportunities in areas such as data center, software defined networks and Industrial Internet-of-things. 

Business Outlook – June Quarter Fiscal 2016

• Sales are expected to be flat to down 4% sequentially.
• Gross margin is expected to be 69% to 70%.
• Operating expenses are expected to be approximately $210 million including $2 million of amortization of acquisition-related intangibles. 
• Other income and expenses are expected to be a net expense of approximately $12 million.
• Fully diluted share count is expected to be approximately 266 million.
• June quarter tax rate is expected to be approximately 13% - 14%.

Conference Call

A conference call will be held today at 2:00 p.m. Pacific Time to discuss the March quarter financial results and management's outlook for the June quarter. The webcast and subsequent replay will be available in the investor relations section of the Company's web site at www.investor.xilinx.com.  A telephonic replay of the call may be accessed later in the day by calling (855) 859-2056 and referencing confirmation code 98457054. The telephonic replay will be available for two weeks following the live call. 

This release contains forward-looking statements and projections. Forward-looking statements and projections can often be identified by the use of forward-looking words such as "expect," "believe,"  "may," "will," "could," "anticipate," "estimate," "continue," "plan," "intend," "project" or other similar expressions.  Statements that refer to or are based on projections, uncertain events or assumptions also identify forward-looking statements.  Such forward looking statements include, but are not limited to, statements related to the semiconductor market, the growth and acceptance of our products, expected revenue growth, the demand and growth in the markets we serve, opportunity for expansion into new markets, and our expectations regarding our business outlook for the June quarter of fiscal 2016.  Undue reliance should not be placed on such forward-looking statements and projections, which speak only as of the date they are made. We undertake no obligation to update such forward-looking statements.  Actual events and results may differ materially from those in the forward-looking statements and are subject to risks and uncertainties including customer acceptance of our new products, current global economic conditions, the health of our customers and the end markets in which they participate, our ability to forecast end customer demand, a high dependence on turns business, more customer volume discounts than expected, greater product mix changes than anticipated, fluctuations in manufacturing yields, our ability to deliver product in a timely manner, our ability to successfully manage production at multiple foundries, variability in wafer pricing, costs and liabilities associated with current and future litigation, and other risk factors listed in our most recent Forms 10-Q and 10-K.

About Xilinx

Xilinx develops All Programmable technologies and devices, beyond hardware to software, digital to analog, and single to multiple die in 3D ICs.  These industry leading devices are coupled with a next-generation design environment and IP to serve a broad range of customer needs, from programmable logic to programmable systems integration.  For more information, visit www.xilinx.com.

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Xilinx, the Xilinx logo, Artix, ISE, Kintex, Spartan, Virtex, Zynq, Vivado, and other designated brands included herein are trademarks of Xilinx in the United States and other countries. All other trademarks are the property of their respective owners.

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Investor Relations Contact:
Lori Owen
Xilinx, Inc.
(408) 879-6911
Email Contact

 

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